Liverpool ONE Debenhams transformation bolsters scheme performance
The introduction of new tenants into the former Debenhams department store at Liverpool ONE has increased performance at the scheme.
Both retailer M&S and leisure operator Gravity MAX opened at Liverpool ONE in August following a redevelopment of the Debenhams department store.
M&S had relocated from its former store in Liverpool city centre to the lower two floors of the former department store, whilst Gravity invested £10m to create its latest concept, MAX, on the upper two storeys.
According to analysis conducted by asset manager Grosvenor and CACI, footfall at Liverpool ONE has increased by 7.9% against the national benchmark following the arrivals of M&S and Gravity MAX.
Sales on Liverpool ONE’s restaurant terrace, which sits opposite Gravity MAX, have increased by 9.6% during the same period.
Grosvenor said that Gravity MAX is attracting more people from its secondary, tertiary, and quaternary catchments, with the proportion of spend in each area up by 2%, 4%, and 1% respectively, compared to the scheme’s benchmark performance.
The research found that M&S has played a similar role, attracting increasing numbers of visitors from the primary catchment than Liverpool ONE’s benchmark (40% versus 31%).
Chris Jukes, Grosvenor’s director of Liverpool ONE, said: “Our active asset management ensures visitors will always find Liverpool ONE a great place to visit, shop and socialise. We endeavour to be ahead of the curve, anticipating consumers’ needs and wants, and the increased footfall and sales data bear this out. Gravity MAX and M&S opening at Liverpool ONE has had a huge impact, benefitting all of our occupiers and those who have come to visit since August.”
M&S and Gravity MAX are the largest of 25 new arrivals at Liverpool ONE in 2023. For a total of almost 275,000 sq ft, other highlights include Goldsmiths’ largest showroom to date, new regional flagships for Swarovski and BOSS, Hollister, Gilly Hicks, Sweaty Betty, Space NK, Red Run, TAG Heuer, Bean Coffee Roasters, Joe & the Juice, and Liverpool’s first dedicated esports venue, leveltap. A further 27 brands renewed or regeared in 2023, for a total of almost 105,000 sq ft of space.
The scheme has also hosted seven pop-ups this year, including regional debuts for On Running and Lounge, as well as ARNE, Sook, and Eurovision.